Business
Minimum Wage: TUC Silent As Ultimatum Expires
The Trade Union Congress of Nigeria (TUC) has declined to speak on its planned nationwide strike to protest the failure of some states to implement the new minimum wage.
On January 9, the TUC had given states that were yet to sign and implement the agreement till January 31 to do so.
The TUC, in a communiqué issued at the end of its executive council meeting on January 9 said if the states failed to do this, workers would embark on a nationwide industrial action.
The TUC President, Quadri Olaleye said state councils had been directed to mobilise their members in preparation for the planned strike.
The ultimatum given by the union had expired last Saturday and there was no sign that the union would embark on strike any moment from now.
A source from the workers’ union however, told The Tide that many states had signed the agreement and had started paying.
It was gathered at the time of the ultimatum that about 15 states had started negotiations for the minimum wage while about six states had signed the agreement.
Currently, more than 20 states had signed the agreement, the source added, saying that the union was probably holding action on the planned strike, waiting to see how the situation would unfold.
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Sugar Tax ‘ll Threaten Manufacturing Sector, Says CPPE
In a statement, the Chief Executive Officer, CPPE, Muda Yusuf, said while public health concerns such as diabetes and cardiovascular diseases deserve attention, imposing an additional sugar-specific tax was economically risky and poorly suited to Nigeria’s current realities of high inflation, weak consumer purchasing power and rising production costs.
According to him, manufacturers in the non-alcoholic beverage segment are already facing heavy fiscal and cost pressures.
“The proposition of a sugar-specific tax is misplaced, economically risky, and weakly supported by empirical evidence, especially when viewed against Nigeria’s prevailing structural and macroeconomic realities.
The CPPE boss noted that retail prices of many non-alcoholic beverages have risen by about 50 per cent over the past two years, even without the introduction of new taxes, further squeezing consumers.
Yusuf further expressed reservation on the effectiveness of sugar taxes in addressing the root causes of non-communicable diseases in Nigeria.
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